Tech Stocks Put Nasdaq Near Record

The world's leading technology companies propelled the Nasdaq composite index within a point of a closing record Monday, capping a quiet session that left most stock indicators little changed.

The Nasdaq gained 16.53 points to close at 2,886.15. Its all-time high of 2,887.06 was set on Sept. 10.

The Dow Jones industrial average was up 20.27 at 10,823.90, and the Standard & Poor's 500 rose 0.11 to 1,335.53.

But declining issues outnumbered advancers by a 3-to-2 margin on the New York Stock Exchange, and the Russell 2000 index of smaller companies fell 1.25 to 433.20.

Monday

Best Buy Inc. (BBY)

Shares rose $3.06, or 5.4 percent, to $59.31. The largest U.S. consumer-electronics retailer said it plans to repurchase as much as $200 million of its stock to boost shareholder value.

CMGI Inc. (CMGI)

Shares rose $3.44, or 4.3 percent, to $83.44. The Internet venture fund with investments in Yahoo! Inc. (YHOO) and other online companies will buy AdForce Inc. (ADFC) for $500 million in stock to gain its 300 Web site advertising customers.

Dole Food Co. (DOL)

Shares fell $2.75, or 11 percent, to $21.25. The world's largest producer and marketer of fresh fruit said it may report a loss in the third quarter because of falling banana prices in Europe. Dole said it expects to report break-even earnings from continuing operations or a slight loss.

MCI WorldCom Inc. (WCOM)

Shares rose $2.63, or 3.3 percent, to $81.50. The No. 2 U.S. long-distance phone company will keep expanding internationally, Barron's reported, citing Vice Chairman John Sidgmore. The company likely will buy or build a wireless company within three years, Sidgmore said.

Phone.com Inc. (PHCM)

Shares rose $7.19, or 5.3 percent, to $142.94. The maker of software that connects wireless phones to the Internet said it will sell software and services that enable wireless-service providers to create custom World Wide Web sites.

Razorfish Inc. (RAZF)

Shares rose $6.75, or 22 percent, to $37.63. The company, which designs Web sites for online businesses, rose as much as 31 percent after a Lehman Brothers Inc. analyst forecast better-than-expected business and revenue in the third quarter.

TODAY

Apple Computer Inc. (AAPL)

The seventh-biggest personal-computer maker said fiscal fourth-quarter earnings will be lower than expected because it didn't get enough G4 chips from Motorola Inc. (MOT). Apple expects to earn $75 million to $85 million. Apple rose $2.13 to $79.06 on Monday.

Information from The Associated Press and Bloomberg News contributed to this report.